An Abercrombie & Fitch store in New York, US, on Monday, Nov. 20, 2023. Abercrombie & Fitch Co. is scheduled to release earnings figures on November 21. Stephanie Keith | Bloomberg | Getty Images Abercrombie & Fitch‘s revenue grew 21% during its fiscal second quarter as the apparel company builds on its torrid growth. The … Read more
Is this the beginning of Foot Locker‘s comeback story? The beleaguered sneaker company on Wednesday said comparable sales grew for the first time in six quarters as its efforts to refresh its stores and improve the customer experience continue to bear fruit. Foot Locker’s same-store sales grew 2.6% during its fiscal second quarter, far better … Read more
Customers at a Lego store in Shanghai, China, on Feb. 3, 2024. Costfoto | Nurphoto | Getty Images An inflation-fueled sales slump hit the toy industry in the first half of 2024, but one company is gaining market share brick by brick. On Wednesday, Lego said revenue during the first six months of the year … Read more
JD.com set up an Innovative Retail division that houses its grocery business 7Fresh. Bloomberg | Bloomberg | Getty Images Hong Kong-listed shares of Chinese online retailer JD.com climbed 1.2% on Wednesday, outperforming the decline on the Hang Seng index after the firm announced a $5 billion buyback late Tuesday. U.S. listed shares of the firm … Read more
Signage outside a Nordstrom Rack retail store in New York on Aug. 25, 2022. Gabby Jones | Bloomberg | Getty Images Nordstrom on Tuesday posted earnings that blew past Wall Street’s expectations, indicating the department store is making strides in its efforts to cut costs and boost efficiencies. Though the Seattle-based retailer posted earnings per … Read more
Jakub Porzycki | Nurphoto | Getty Images The nearly 30% drop in shares of Chinese online retailer PDD Holdings is “too much of a correction,” according to Shaun Rein, founder and managing director of the China Market Research Group. Speaking to CNBC’s “Street Signs Asia,” Rein said the “panic was overblown last night,” and that … Read more
Wall Street takes back-to-back weekly gains and an overbought market into an important week featuring Nvidia earnings and the latest reading on the Federal Reserve’s favorite inflation gauge. Fed Chairman Jerome Powell on Friday gave the speech from Jackson Hole that investors wanted to hear. The S & P 500 and Nasdaq bounced back from … Read more
Leopatrizi | E+ | Getty Images Lawmakers want to crack down on “junk fees,” but restaurants are trying to stay out of the fight. Surcharges or fees covering everything from credit card processing to gratuities to “inflation” have become more popular on restaurant checks in recent years. Last year, 15% of restaurant owners added surcharges … Read more
Customers have come to expect when they order something online, it arrives in two days or less. But with increasing adverse weather events like Houston’s heatwaves, Florida’s hurricanes and other extreme storms, it’s getting harder to ensure fast delivery. Many logistics companies have warned about shipping delays due to extreme weather. Weather-related supply chain disruptions … Read more
Customers arrive at a Cava restaurant in New York City on June 22, 2023. Brendan Mcdermid | Reuters Cava on Thursday raised its full-year outlook as its restaurants reported strong traffic, fueling better-than-expected quarterly earnings and revenue. Shares of the company rose 7% in extended trading. The stock has more than doubled its value this … Read more
